Is a credit union safer than bank? Safer than vanguard?

[Anonymous]

Anonymous wrote:What are you worried about?

Trump is crashing the dollar fool
Trump is changing our currency
Yes he is will

[Anonymous]

Anonymous wrote:FDIC absolutely does cover runs on the bank.

They DID. I don't trust Musk et al with my money, do you? Do you remember the Silicon Valley bank near run two years ago? And that was with competent financial stewardship from the federal government. All bets are off.

I'm not telling you to take out your cash and put it in your mattress. But have a plan.

[Anonymous]

Anonymous wrote:

Anonymous wrote:FDIC absolutely does cover runs on the bank.

They DID. I don't trust Musk et al with my money, do you? Do you remember the Silicon Valley bank near run two years ago? And that was with competent financial stewardship from the federal government. All bets are off.

I'm not telling you to take out your cash and put it in your mattress. But have a plan.

What would a plan look like? Genuinely asking.

[Anonymous]

Anonymous wrote:

Anonymous wrote:FDIC absolutely does cover runs on the bank.

They DID. I don't trust Musk et al with my money, do you? Do you remember the Silicon Valley bank near run two years ago? And that was with competent financial stewardship from the federal government. All bets are off.

I'm not telling you to take out your cash and put it in your mattress. But have a plan.

SVB was not covered because they were over the FDIC insured limits. Stop spreading FUD

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:FDIC absolutely does cover runs on the bank.

They DID. I don't trust Musk et al with my money, do you? Do you remember the Silicon Valley bank near run two years ago? And that was with competent financial stewardship from the federal government. All bets are off.

I'm not telling you to take out your cash and put it in your mattress. But have a plan.

SVB was not covered because they were over the FDIC insured limits. Stop spreading FUD

Do you understand that many people have money over the insured limits in banks? Regardless this is assuming the FDIC is still functional, and who knows if it will be. My point was that bank runs are not some thing of the distant past, they can and have happened in modern America.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:FDIC absolutely does cover runs on the bank.

They DID. I don't trust Musk et al with my money, do you? Do you remember the Silicon Valley bank near run two years ago? And that was with competent financial stewardship from the federal government. All bets are off.

I'm not telling you to take out your cash and put it in your mattress. But have a plan.

What would a plan look like? Genuinely asking.

Move some money abroad. Have a few thousand in cash, both in dollars and foreign currency. Store as much non perishable food as you can fit and afford.

[Anonymous]

Two things can be true: trump will crater the economy, destroy the international order etc etc, and the government will not default on its commitments to protect deposits.

I am an economist and believe both of these things.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:FDIC absolutely does cover runs on the bank.

They DID. I don't trust Musk et al with my money, do you? Do you remember the Silicon Valley bank near run two years ago? And that was with competent financial stewardship from the federal government. All bets are off.

I'm not telling you to take out your cash and put it in your mattress. But have a plan.

SVB was not covered because they were over the FDIC insured limits. Stop spreading FUD

Do you understand that many people have money over the insured limits in banks? Regardless this is assuming the FDIC is still functional, and who knows if it will be. My point was that bank runs are not some thing of the distant past, they can and have happened in modern America.

Having over the limit is on you. There are services that spread across multiple banks, etc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:FDIC absolutely does cover runs on the bank.

They DID. I don't trust Musk et al with my money, do you? Do you remember the Silicon Valley bank near run two years ago? And that was with competent financial stewardship from the federal government. All bets are off.

I'm not telling you to take out your cash and put it in your mattress. But have a plan.

What would a plan look like? Genuinely asking.

Move some money abroad. Have a few thousand in cash, both in dollars and foreign currency. Storer as much non perishable food as you can fit and afford.

But we just finished our last pandemic cans!!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:FDIC absolutely does cover runs on the bank.

They DID. I don't trust Musk et al with my money, do you? Do you remember the Silicon Valley bank near run two years ago? And that was with competent financial stewardship from the federal government. All bets are off.

I'm not telling you to take out your cash and put it in your mattress. But have a plan.

SVB was not covered because they were over the FDIC insured limits. Stop spreading FUD

Do you understand that many people have money over the insured limits in banks? Regardless this is assuming the FDIC is still functional, and who knows if it will be. My point was that bank runs are not some thing of the distant past, they can and have happened in modern America.

Having over the limit is on you. There are services that spread across multiple banks, etc.

You don't understand what a bank run is. Banks don't literally have 250k in cash for every customer back in the vault somewhere.

[Anonymous]

The amount of misinformation in this thread is staggering. Your money is safe in banks and credit unions. If you are fortunate enough to be over the insurance limit put it in a mutual fund.

SVB not only was covered by the FDIC but the Biden admin covered depositors 100%, even over the insurance limits. Wonder why they did that?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No one serious is worried about deposit insurance. Banks are safe.

If you want to worry about something, worry about a recession and inflation.

Bit late for that. Already been happening for years. Banks are not "safe" either. Safer than a mattress in a sketchy neighborhood sure, but not guaranteed in event of financial crashes.

No, they are literally guaranteed. Guaranteed by deposit insurance. At least up to the limit.

At least for right now.usk and minions have started to target FDIC.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No one serious is worried about deposit insurance. Banks are safe.

If you want to worry about something, worry about a recession and inflation.

Bit late for that. Already been happening for years. Banks are not "safe" either. Safer than a mattress in a sketchy neighborhood sure, but not guaranteed in event of financial crashes.

No, they are literally guaranteed. Guaranteed by deposit insurance. At least up to the limit.

At least for right now.usk and minions have started to target FDIC.

They are looking at consolidating agencies, not doing away with deposit insurance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:FDIC absolutely does cover runs on the bank.

They DID. I don't trust Musk et al with my money, do you? Do you remember the Silicon Valley bank near run two years ago? And that was with competent financial stewardship from the federal government. All bets are off.

I'm not telling you to take out your cash and put it in your mattress. But have a plan.

What would a plan look like? Genuinely asking.

Move some money abroad. Have a few thousand in cash, both in dollars and foreign currency. Store as much non perishable food as you can fit and afford.

Why move money abroad? I thought we were talking about FDIC potentially failing?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:FDIC absolutely does cover runs on the bank.

They DID. I don't trust Musk et al with my money, do you? Do you remember the Silicon Valley bank near run two years ago? And that was with competent financial stewardship from the federal government. All bets are off.

I'm not telling you to take out your cash and put it in your mattress. But have a plan.

What would a plan look like? Genuinely asking.

. I wish someone would tell me too